When a sole proprietor has an employer identification number (EIN), it would seem to be common sense that the proprietor would put that EIN on the Schedule C for the proprietorship. Not so fast -- especially of the sole proprietorship is a single-member LLC taxed as a sole proprietorship.

Question: I am a co-owner in a partnership. The partnership has an EIN. We have now decided to form an LLC but will continue to be taxed as a partnership. Do we need a new EIN for the LLC? Answer: No, you can keep your existing EIN.

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The articles on this blog are presented for general informational purposes only. This blog, and any responses to questions posed in the "comments" section of blog posts, should NOT be considered tax advice. Because each taxpayer's situation is unique, you should pay a tax advisor to discuss your unique situation before you make any financial decisions.